Calif. – Lithium Technologies, a
developer of software that lets businesses create their own social networks and
online communities, said on Wednesday that it has raised $18 million in its
third round of funding.
New investors DAG Ventures and Tenaya Capital joined
previous backers Benchmark Capital, Emergence Capital and Shasta Ventures.
company also raised $12 million in its second round, which closed in June 2008.
This past June, Lithium acquired San Francisco-based Keibi Technologies,
developer of a platform that allows online communities to monitor content for
The company’s clients include Best Buy, Sony, AT&T,
Research In Motion Limited (RIM), Univision and PayPal.